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INTRODUCTION. Classifying Countries. By per capita GNI (Gross National Income) World Development Report by World Bank ( http://www.worldbank.org/ ) By economic freedom Economic Freedom Survey by Heritage Foundation ( www.heritage.org ) By political freedom

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classifying countries
Classifying Countries
  • By per capita GNI (Gross National Income)
    • World Development Report by World Bank (http://www.worldbank.org/)
  • By economic freedom
    • Economic Freedom Survey by Heritage Foundation (www.heritage.org)
  • By political freedom
    • Freedom in the World by Freedom house (http://www.freedomhouse.org/)
per capita gni
Per Capita GNI
  • Economies are divided according to 2000 GNI per capita, calculated using the World Bank Atlas method.
  • low income, $755 or less
  • lower middle income, $756- $2,995
  • upper middle income, $2,996- $9,265
  • high income, $9,266 or more
political freedom
Political Freedom
  • Countries are classified into free, partly free, and not free. (www.freedomhouse.org)
  • Two factors in evaluating political freedom:
    • Political rights
    • civil liberties
  • Indicators for political rights
    • Fair and competitive elections
    • Power for elected representatives
    • Ability to organize political parties
    • Safeguards on rights of minorities
political freedom continued
Political FreedomContinued
  • Indicators for civil liberties
    • Freedom of the press
    • Equal right under the law
    • Personal social freedom
    • Government corruption and indifference
  • 192 countries are rated according to political rights and civil liberties.
  • The U.S. and many European countries are classified as “free”
  • The worst rated countries include Cuba, Iraq, Libya, and North Korea.
economic freedom
Economic Freedom
  • Two factors in evaluating economic freedom
    • Freedom from government restraints on economic activities
    • Legal and institutional frameworks to safeguard economic freedom
  • 155 countries are ranked according to economic freedom in 10 categories. (www.heritage.org)
  • Categories:
    • banking, capital flows, monetary policy, taxation, trade policy, wages and prices, government intervention, property rights, regulation,and black market activities
economic freedom continued
Economic FreedomContinued
  • Economic freedom and economic well-being (measured by per capita GDP) are highly correlated.
  • Hong Kong and Singapore rank first and second respectively.
  • The worst ranked countries are Iraq, Libya, and North Korea (#155).
competitiveness
Competitiveness
  • Competitiveness of a country is evaluated according to its economic performance, government efficiency, business efficiency and infrastructure. (www.imd.ch)
  • 49 countries are rated and ranked.
  • The U.S. ranks first and Singapore ranks second.
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